Statoil gets green light for Saturn well

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7227/10-1, in the production licence 230, in the Barents Sea. 

The 7227/10-1 wildcat well will be drilled from the Transocean Spitsbergen semi-submersible drilling rig. The name of the prospect is “Saturn”.

Oil company Statoil, which is actively seeking for a permanent CEO since Helge Lund today resigned,  is the operator with a 35 per cent ownership interest. The other partners are Spike Exploration Holding AS with 30 per cent, Explora Petroleum AS with 20 per cent and GDF SUEZ E&P Norge AS with 15 per cent.

The production licence consists of parts of blocks 7227/8, 7227/9 and 7227/10. The licence was awarded in the Barents Sea project in 1997.

The wildcat well 7227/10-1 will be the first exploration well in production licence 230.

The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.

In September 2014, PSA Norway granted Statoil consent for exploration drilling with the semi-submersible drilling rig Transocean Spitsbergen in the Barents Sea.